[mrhands556]

20% of their employees had salary + benefits of 500 million?

Edit: Snapchat has 32k employees!? :o

How does Snapchat have 4x the employees that twitter has?

[aaronbrethorst]

The very first line of the article includes Snap's headcount:

"Snap is laying off around 20 percent of its more than 6,400 employees"

Original number of employees: 6,400

Approximate number getting laid off: 1,280

[conradfr]

> 20 percent of its more than 6,400 employees

So ~1280 employees laid off

> Snap said it expects the layoffs, which were first reported by The Verge on Tuesday, to save it $500 million in costs annually.

So $500M / 1280 = $390,625 per employee per year, ~$32,552 per month, wow.

[myth_drannon]

Snap had very high salaries for engineers. On Blind, many times I saw TC offers of $500K-700k.

[raydev]

Snap definitely pays on the mid-to-high end of base salary, but TC numbers are always inflated 100-300% by RSUs, so I don't see how TC is relevant.

[whiplash451]

That’s the cost of an employee, not their salary.

[darth_avocado]

It’s not just employees that contribute to the cost. They’re essentially shutting down entire businesses, which also come with a lot of operating expenses.

[dominotw]

SNAP has one of the highest TC for engineers. FB/SNAP ect set a new standard of comp of software engineers. Sad to see these companies biting dust.

[lotsofpulp]

They have to offer more compensation to offset the higher volatility of their businesses, as evidenced by these layoffs.

[FerociousTimes]

they are not biting the dust, at least for now, they're just going lean and shedding few pounds to weather the storm.

[subsubzero]

> How does Snapchat have 4x the employees that twitter has?

This seems absurd for the size of snap, they are involved with hardware so theres headcount there for that, twitter is all software. $500M seems about right, given that that would amount to 6400 employees getting cut thats an average of $78,125 per employee which seems a bit low but they are based in socal and engineer salaries are lower there than the bay area. I hope these folks find new jobs quickly thats alot of people out of work all at once.

[FerociousTimes]

Mission creep but taken to a whole new level

[adrr]

They hired like crazy during Covid.